Lodha Developers plans to repay its debt, faces delay in asset sales

Lodha plans to repay £290 million (Rs 2,600 crore) from sales at the 48CS project in London for which it had taken the loan

Lodha Developers, the biggest property developer in terms of home sales, appears to be struggling with its planned asset sales as the company looks to repay its debt. Two rating firms, Moody’s and Fitch, have downgraded their outlook on Lodha over the last five days.

Though Lodha is in the middle of selling 28 per cent equity stake in London properties to a buyer, there have been delays in the receipt of funds from the sale, global rating firm Moody’s said last week. The amount received is substantially lower than Moody’s expectations.

Moody’s, which downgraded its outlook on Lodha to 'negative' from